Buying a house in Germany is certainly a great desire for those who are living and working here. As the proverb “Settling down and working” has always been engraved in their hearts, Vietnamese people, wherever they are, hope to have their own home – a place to return to after a long day. So is it easy to buy a house in Germany? And what should we pay attention to when we want to buy a house in Germany?

I. Buying a house in Germany and deciding factors

1. No need to be a German citizen

First of all , buying a house in Germany does not require you to be a German citizen to own a house here. Buying a house in Germany can be done by German citizens, Vietnamese citizens living in Germany or even if you are living in another country.

2. Transparent financial capacity

Second , to buy a house in Germany, you need to have strong finances and must prove the transparency of those funds. If your financial capacity is not enough to make a one-time payment for buying a house in Germany and you are living and working in Germany, you can consider taking out a bank loan. However, the bank will evaluate and decide to lend based on the monthly income of the family, the mortgaged assets and the financial reputation of the borrower. Interest rates are also decided based on these bases.

3. Purchase purpose 

Third , buying a house in Germany is similar to Vietnam, there are many areas and locations that you can choose according to your financial ability such as suburbs, city center, high-class residential area or just in a small village. Depending on your purpose of use? To live, resell or rent, choose a reasonable house. The price of buying a house in Germany will range from tens of thousands of Euros to millions of Euros depending on the size of the house and its location.

II. 5 things you need to keep in mind when planning to buy a house in Germany

1. Choosing a place to buy a house

Location is the deciding factor in the price of real estate today. Even in Vietnam, houses in area 1 will have a much higher value than houses in area 2. Buying a house in Germany is not difficult, the difficulty is choosing the most suitable house, the most convenient for you and of course, it must be affordable. A good location often meets the needs of many people, making the right decision and choosing the right one can help you save money or get a decent profit if you want to resell. So, consider the location carefully to optimize all your requirements for living and working in Germany.

2. Check the quality and value of the house/apartment

The decision to buy a house in Germany is a big decision, costing a lot of money, so the inspection and evaluation of a house should be done carefully and methodically. If you are not an expert in this matter, do not hesitate to spend less than 3000 Euros to have Gutachter help you assess the condition and value of the house. You should search and contact Gutachter at least 3 months in advance if you need to buy a house. This is a popular and effective service for those who want to own a home in Germany. In addition, you need to determine whether this house has legal certification documents or not? Specifically, you need to add a building permit if you have ideas to modify it according to your wishes. In case you choose to buy an apartment, consulting and talking to the neighbors around is an effective solution if you want to better understand the apartment you want to buy. 

3. Measure the area of ​​the house

There are many ways to calculate the price of a house, in which calculating per square meter is widely used. To ensure that buying a house in Germany at the right price and not being “overcharged”, you should discuss with the homeowner to make accurate measurements and transparent information in the signed contract.

4. Mandatory expenses when buying a house in Germany

Buying a house in Germany is a little different from buying a house in Vietnam. There are some costs you must pay to own your own house. Based on the selling price of the house, you must pay a fee for notarizing the house purchase contract ( Notar ). Because buying a house in Germany, the house purchase contract must be notarized, otherwise it will not be valid.

In addition, you will have to pay a house purchase tax ( Grunderwerbssteuer ). This tax is only payable when buying a house, it is not related to the land tax mentioned above ( Grundsteuer ). The house purchase tax is calculated as a percentage of the purchase price. Each state in Germany has a different rate: for example, in Berlin, Hessen (Frankfurt am Main) in September 2015 it was 6% of the contract purchase price, Hamburg was 4.5%, and Bayern (Munich) was 3.5%. Finally, you will also have to pay the real estate broker (Makler). Depending on the location, the company and the real estate, the brokerage fee can range from about 3.5% to 7%.

In general, home buyers should expect to spend about 10% more on the home purchase price to own the home they want to buy.

Other costs may apply. 

Buying a house in Germany does not stop at the step of holding the certificate of ownership in your hand, but you also need to pay a monthly fee such as electricity, water, gas, heating, street cleaning, garbage collection. In addition, as the owner of a house or apartment, you must pay additional home insurance and land tax ( Grundsteuer ). This land tax must be paid monthly, unlike the house purchase tax mentioned above, which is only paid once when buying a house.  According to the experience of those who already own a house, the cost of a house in Germany is not cheaper than renting a normal house. Along with owning a house is your responsibility and obligation towards that house.

Buying a house in Germany is an important decision in the journey of those who are far from home. It cannot be denied that having a house in the place you come to is a wonderful thing. Surely, international students in Germany are also cherishing this great plan when they want to settle down in Germany for a long time. So what are you waiting for? Find out information about vocational study abroad programs with attractive salaries here: Vocational study abroad in Germany 2022